#4 How to use an IRA/LLC or Checkbook IRA
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- Опубликовано: 25 окт 2020
- Join mat and mark as they break down how to set up the perfect structure to partner you IRA with other accounts or other individuals and build a mega IRA account the checkbook LLC is a unique structure that many don't understand.
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I like you way more than Ramsey Mark so,it’s just a matter of time for your platinum button lol😅
You make way easier to people that is new like me,friendly,humble and you make any subject way more interesting. lol
Thank you! And thank you Matt for all your expertise !
Eye of the tiger, walk up song
Are collectibles permissible for purchase in the IRA LLC such as Art, classics cars etc…?
Solid info guys. Thanks!
Our pleasure!
can my IRA llc hold crypto in a cold storage? I want to invest in crypto with my IRA llc, can the manager [me] of the IRA llc store the coin in a ledger and I keep the ledger?
The most used tool really depends on the job but if I had to assert a tool across all jobs I would say the tape measure.
Good to know!
Can you guys make a video specifying PMA's ??
My family is from Belize! Hmm buying property there is a great idea!
Did you end up buying real estate in your IRA?
Marks walkup music should be pink Floyd's Money...
I have loaned hard money in Arizona for 5 years. It has always been my understanding that a private lender is not allowed to loan money in Arizona without a mortgage broker's license. In addition, it it is my understanding that Federally the Dodd Frank act does not allow any private party without a mortgage license to lend to an owner occupant of a residence. This webcast seems to violate both of those rules. What am I missing here?
very good question! please comment mark/matt. thanks Larry
There are 3 Vanday Industries and 1 Art Vandalay Industries in Georgia
lol, I wonder if George is an owner there?
Can you discuss obtains mortgages for investment properties in a SD IRA?
That's a great question for the Directed IRA Podcast Open Forum! Please ask it here: directedira.com/submit-a-question/
Could you please put them in an Interdiction Trust please introduction they arrest the people that steal them now Nicer will arrest the people that steal your property
I like this flexibility...i can get Treasury items like Savings Bonds and T-notes in my retirement acct this way, along with precious metals, land, stocks, crypto, etc....
So if I'm 30 years old and invest in Bio Tech stocks inside my Roth IRA at Vanguard→10 years from now I have a cost basis of $50,000 and $9,950,000 of gain. I want to utilize my Roth to buy an Iowa farm but I don't want to pay the 10% penalty + ordinary income on the gain associated with distributions prior to 59 1/2. I can open a self directed IRA → do a tax free custodian-to-custodian transfer → set up articles of incorporation for a new LLC in Iowa where I am the 100% owner → have the Roth IRA invest in the new LLC→ Cash rent my farm to my brother (non lineal relative). The only caveat is that I personally cannot plan to take any income from the farm operation until I'm 59 1/2? I would just let the rental income sit there and percolate in a savings account at the bank and pay the property taxes.
Thanks for your question! To give you a clear reply please schedule an appointment with one of our account specialists to get this answered, as each person’s situation is different. directedira.com/appointment/
I’m definitely an engineer and not an attorney but in my opinion, if you are 100% owner of an LLC and your IRA invests in said LLC, that would constitute a prohibited transaction.
I'm thinking you're right. @@LowOutput
Motorhead The Game
Thanks
Whoops I posted in your wrong webcast. Belongs in the webcast on lending in an IRA.
Can I rent my house out and buy it with my SD IRA Or does it need to change hands first?
You can not live in the house that your IRA owns unfortunately.
Can 403b funds be transferred into a new Self-directed IRA?
Absolutely!
Great video, how can I apply for an IRA LLC business credit card? Does it count as prohibited transaction/activity? Thanks
You can get a debit card with the IRA/LLC but avoid a credit card or credit line as that generally requires a personal guarantee from you personally and can cause an extension of credit prohibited transaction for the IRA.
@@MatSorensen Thanks Matt. Would it trigger prohibited transaction If I apply credit card in IRA LLC name and a personal guarantee, but use it for the purposes of another LLC and paid back the credit card balance by the other LLC checking account? Would it trigger anything?
@@NGF-Life Getting a credit card alone in the IRA/LLC would cause a prohibited transaction as they all require a personal guarantee of the business owner from my experience, whether you use it for personal (a whole other problem) or IRA/LLC expenses it is already prohibited.
where do i find the super charger IRA class?
Hi Maya, I'm glad to know that you are enjoying my content. I'm answering this question on next week's Open Forum podcast. Please stay tuned, and if you would like to receive a notification, please subscribe to our newsletter www.directedira.com. Although, the best place to learn about this is at The next Self-Directed IRA Summit, learn more www.sdirasummit.com, I hope to see you there.
If the EIN is filed under the custodian's name, then what address should be provided? The custodian's or the IRA owner's home address (or other?)
If you find out which which one you use it seems some custodians say to use the LLC's even if its a single member , please let me know if you have to figured out , thx u Lisa.
I'm considering a SMIRA/LLC to buy a property and have a friend live in it while she dresses up/paints to improve it over the next year in lieu of charging rent. Is that ok or must she pay rent to the LLC but her Self owned design business invoices the LLC for the improvements?
I'm not sure I understood the last part of the question but yes your friend can live in the house your IRA/LLC owns and pay you with sweat equity if that's what you want.